Spice Lounge Food Works Limited, a fast-growing multi-format food service organisation, has announced two significant strategic developments concerning acquisitions and global expansion. The company, formerly known as Shalimar Agencies Limited.
The Board of Directors of Spice Lounge Food Works Ltd. approved the acquisition of 100% of the shareholding of Rightfest Hospitality LLP (“Rightfest”). This action is seen as a strategic expansion into India’s rapidly evolving casual dining, quick-service, and tech-enabled food experience space.
Strategic Rationale: The acquisition is described as a deliberate horizontal expansion that moves the Company beyond its culinary roots into the fast-growing experiential lifestyle ecosystem. By leveraging Rightfest’s strong brand, live-music events, and premium venue assets, Spice Lounge Food Works Ltd. aims to capitalize on rising demand from affluent millennials and tourists across metros and leisure destinations. The ultimate goal is to scale not just as a food-service player but as an all-encompassing lifestyle powerhouse, delivering curated experiences across dining, nightlife, and entertainment while unlocking higher growth and asset-light revenue opportunities.
Commenting on the development, Mr. Mohan Babu Karjela, Chairperson and Director of Spice Lounge Food Works Ltd, said: “The acquisition of Rightfest Hospitality LLP marks a defining milestone in our journey to build a multiformat, experience-led food and hospitality company. Rightfest has consistently demonstrated creativity and excellence in curating destinations that go beyond dining — delivering lifestyle experiences that deeply connect with today’s aspirational Indian audience.
The company reported consolidated revenue from operations of ₹32.30 crore in June 2025 compared to ₹34.76 crore in March 2025, reflecting a 7.10% sequential decline. The consolidated net loss, however, narrowed to ₹1.18 crore in June 2025 from ₹3.64 crore in March 2025, indicating an improvement in profitability despite lower revenues.
On Wednesday, the Spice Lounge Food Works share price locked in the 5% upper circuit.
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